Indian wealthtech startup Centricity has secured $20 million in a seed funding round led by Lightspeed India Partners, bringing the company’s valuation to an impressive $125 million.
The funding round also saw participation from notable investors, including Burman Family Office, Shantanu Agarwal, Paramark VC, MS Dhoni Family Office, NB Ventures, MMG Group, and Action Tesa.
Founded in 2022 and headquartered in Gurugram, Centricity has quickly established itself as a key player in India’s growing wealthtech sector. This latest funding round follows a successful $4 million raise in September 2022, when the company was valued at $20 million.
Centricity specializes in providing cutting-edge Software-as-a-Service (SaaS) solutions for investment management. The company plans to utilize the new funds to scale up its workforce and further enhance its flagship platforms, Invictus and One Digital, with a particular emphasis on integrating Generative AI (GenAI).
The Invictus platform is an investment insights engine designed to empower users by democratizing access to investment intelligence, offering investors greater control and clarity in their financial decisions.
On the other hand, the One Digital platform serves as an investment marketplace, providing users with tools for searching, discovering, and comparing various financial products.
In a recent announcement, Centricity highlighted the rapid growth of India’s wealth management sector, stating that the financialization of assets as a share of total wealth has increased by 15% over the past decade. The company’s long-term vision is to address the underserved wealth market in India by leveraging technology to provide equal access to financial products for all investors.
With its tech-first approach and strong investor backing, Centricity is well-positioned to capitalize on India’s booming wealth creation landscape and set new standards for investment management technology.
